Re David Jones Ltd [No 2]

In the matter of Re David Jones Ltd [No 2], the plaintiff, David Jones, applied to the court for orders under section 1319 of the Corporations Act 2001 to facilitate the despatch of supplementary disclosure to its shareholders in connection with a scheme meeting scheduled for 14 July 2014. The primary dispute arose from the need for additional information to be provided to the shareholders due to the significant changes in shareholdings and strategic proposals involving Woolworths Holdings Limited and Mr. Solomon Lew. The application was heard and determined by the court on 2 July 2014.

The court was tasked with deciding whether the supplementary disclosure could be effectively and timely despatched to the shareholders, given the new developments and the implications they had for the shareholders' ability to make informed decisions. This required the court to consider the necessity and reasonableness of the requested supplementary disclosure, as well as the impact on the timeline for the scheme meeting and the voting process.

The court found that the additional information required by the shareholders was significant and warranted the despatch of supplementary disclosure. It concluded that the proposed timetable for the scheme meeting and the voting process could accommodate the supplementary disclosure without undue delay. The court's reasoning hinged on the importance of ensuring that shareholders had all relevant information to make informed decisions, balanced against the need to maintain the efficiency and effectiveness of the corporate process. Consequently, the court made the orders sought by David Jones, allowing for the despatch of supplementary disclosure to the shareholders.

The final orders included the deferral of the scheme meeting to 14 July 2014, the despatch of supplementary disclosure to shareholders, and the deferral of the date for determining eligibility to vote at the scheme meeting to 12 July 2014. This decision was aimed at ensuring that shareholders received all necessary information in a timely manner, thereby upholding the principles of informed decision-making and corporate transparency.